On October 10, 2017, Vietnam Banking Strategy Institute and State Bank Branch in Bac Lieu province collaborated with Sustainable and Equitable Shrimp Production and Value Chain Development in Vietnam - SusV project management board to organize the training “steps to access the shrimp value chain loans”, there were 100 attendants who are representatives from commercial banks, seafood processing and exporting companies and shrimp farmer groups/coopertitives.
According to Viet Nam baking Strategy Institute, the Seafood processing and exporting companies can receive loans from the program and then loan shrimp farmer groups/cooperatives as they have contract farming. In addition, shrimp production inputs also can join the loaning program to help shrimp farmer groups/cooperatives to comply with national and international standards. The seafood processing and exporting companies will buy shrimp from the farmers when they harveset.
When joining the shrimp value chain linkages, farmers have to follow the shrimp production process given by companies to ensure the quality of shrimp and effectiveness. At the end of shrimp crops, the companies will buy their shrimp with the higher price at 3 to 5% in comparison with the market price and deduct the loan which farmers have taken with loan interest, the interest will be much lower than the interest that they receive loan directly from banks by themselves.
Bac Lieu online newspaprer.